Catalytic Wealth RIA LLC Has $1.28 Million Stake in Abbott Laboratories (NYSE:ABT)

Catalytic Wealth RIA LLC raised its stake in shares of Abbott Laboratories (NYSE:ABT) by 14.8% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 11,260 shares of the healthcare product maker’s stock after purchasing an additional 1,448 shares during the period. Catalytic Wealth RIA LLC’s holdings in Abbott Laboratories were worth $1,284,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. Unique Wealth Strategies LLC purchased a new position in Abbott Laboratories in the 2nd quarter valued at approximately $28,000. Future Financial Wealth Managment LLC purchased a new position in Abbott Laboratories in the 3rd quarter valued at approximately $31,000. Itau Unibanco Holding S.A. purchased a new position in Abbott Laboratories in the 2nd quarter valued at approximately $32,000. Valued Wealth Advisors LLC grew its position in shares of Abbott Laboratories by 78.4% during the 3rd quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock valued at $33,000 after purchasing an additional 127 shares in the last quarter. Finally, Ridgewood Investments LLC purchased a new position in shares of Abbott Laboratories during the 2nd quarter valued at $37,000. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

Shares of NYSE ABT opened at $116.59 on Monday. Abbott Laboratories has a fifty-two week low of $92.43 and a fifty-two week high of $121.64. The company has a 50 day simple moving average of $115.32 and a two-hundred day simple moving average of $109.21. The company has a market capitalization of $202.22 billion, a price-to-earnings ratio of 35.44, a P/E/G ratio of 2.75 and a beta of 0.72. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.01. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The company had revenue of $10.64 billion during the quarter, compared to the consensus estimate of $10.55 billion. During the same quarter last year, the firm earned $1.14 earnings per share. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. Analysts expect that Abbott Laboratories will post 4.67 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio is presently 66.87%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Edward Jones lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Sanford C. Bernstein boosted their price target on shares of Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Citigroup upped their target price on shares of Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Royal Bank of Canada upped their target price on shares of Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Finally, Piper Sandler Companies started coverage on shares of Abbott Laboratories in a research report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 target price for the company. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $130.07.

Insider Transactions at Abbott Laboratories

In related news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the transaction, the chief executive officer now owns 220,059 shares in the company, valued at approximately $25,617,068.19. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.10% of the company’s stock.

About Abbott Laboratories

Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The company provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière’s disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.